March 28, 2008 / 5:49 AM / 12 years ago

S.Korea's IBK to sell 400 mln ringgit bonds-sources

HONG KONG/SEOUL, March 28 (Reuters) - Industrial Bank of Korea (IBK) (024110.KS) plans to sell 400 million ringgit ($125 million) worth of five-year bonds in Malaysia as early as next week, two sources with direct knowledge of the deal said on Friday.

“We had a roadshow already and we are looking to price the deal sometime next week. It’s a 400 million five-year ringgit transaction,” said one of the sources, who declined to be identified because he was not authorised to talk publicly about the transaction.

Malaysia’s RHB Investment Bank, part of RHB Capital (RHBC.KL), will be the underwriter for the deal, and Merrill Lynch MER.N is the financial adviser to IBK, the source said.

The second source confirmed the details, but said the deal may be postponed from next week, subject to market conditions.

IBK specialises in lending to small and medium-sized companies in South Korea. ($1=3.206 Malaysian Ringgit) (Reporting by Rafael Nam in Hong Kong and Kim Yeon-hee in Seoul; Editing by Edmund Klamann)

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